Sheaff Brock Investment Advisors LLC Decreases Stake in Arista Networks, Inc. (NYSE:ANET)

Sheaff Brock Investment Advisors LLC lowered its stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,495 shares of the technology company’s stock after selling 234 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Arista Networks were worth $2,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ANET. Vanguard Group Inc. raised its position in Arista Networks by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock worth $3,511,828,000 after purchasing an additional 353,253 shares during the period. State Street Corp raised its position in Arista Networks by 2.9% in the 2nd quarter. State Street Corp now owns 10,280,987 shares of the technology company’s stock worth $1,666,137,000 after purchasing an additional 289,064 shares during the period. Capital World Investors raised its position in Arista Networks by 68.8% in the 2nd quarter. Capital World Investors now owns 9,819,327 shares of the technology company’s stock worth $1,591,320,000 after purchasing an additional 4,002,359 shares during the period. Morgan Stanley raised its position in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. Finally, Geode Capital Management LLC raised its position in Arista Networks by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock worth $856,254,000 after purchasing an additional 91,829 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 980 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the transaction, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $206.27, for a total transaction of $4,125,400.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $669,139.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $268.29, for a total transaction of $262,924.20. Following the transaction, the chief executive officer now directly owns 73,051 shares in the company, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders have sold 207,114 shares of company stock valued at $47,813,989 in the last 90 days. Company insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, January 8th. KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. JMP Securities boosted their price objective on shares of Arista Networks from $215.00 to $325.00 and gave the company a “market outperform” rating in a research report on Monday. Citigroup boosted their price objective on shares of Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Needham & Company LLC boosted their price objective on shares of Arista Networks from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.11.

View Our Latest Research Report on ANET

Arista Networks Price Performance

Shares of ANET traded down $9.93 during midday trading on Tuesday, hitting $263.04. The stock had a trading volume of 1,440,306 shares, compared to its average volume of 1,768,124. Arista Networks, Inc. has a 1 year low of $129.01 and a 1 year high of $276.99. The firm has a market cap of $81.83 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The stock’s 50 day moving average is $241.68 and its 200 day moving average is $208.28.

About Arista Networks

(Free Report)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

See Also

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETFree Report).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.